Trends of Property Management

AIRA Residence is Selangor Properties’ next exemplar of luxury living. This two-tower development is conveniently and prestigiously situated at the top of Jalan Batai in the coveted lands of Damansara Heights. Tower A, with 105 units, and Tower B, with a total of 64 units, command spectacular views of the Kuala Lumpur City Centre, Mont Kiara and Petaling Jaya. Behind this masterpiece is the property management team led by Mr Aravindashan Sekaran, or fondly known as Aravin.

Across the board, the role of a property manager has been the same and most property management companies do offer competitive pricing for perhaps a fraction of what the service actually entails. With established companies like Knight Frank and Henry Butcher in Malaysia, they are here to set a standard on what property management could be now and in the future.

Aravin, who is a consultant with Knight Frank, mentioned that the difference between the best out there is the focus on corporate governance. As property management involves many parties, it is of utmost importance in this day and age to ensure that the proper governance structures are in place to better procure and deliver the best services offered. Behind Aravin is a procurement team where they will analyze the pricing and details of the respective property management vendors. They have a panel of registered contractors and a commercial tender process where any contract that is worth more than RM40,000 would be scrutinized and approved by the Board. There is also a team of specialists in various aspects of cleanliness, safety & security, and building. Once Vacant Possession is granted to a developer, this team of specialists would do a full audit and will present a full report of the building and its problems. It is important to have a property management team who knows the law as well as having the right technology to work with ease.

The future trends of property management would be the advancement towards the Internet of Things (IoT), corporate governance, technology base and competency of people. IoT describes the network of physical objects or “things” that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet. The usage of resident apps is widely used as a communication tool and also for maintenance fee purposes. Apps such as this can be synced across all devices and it is convenient for both the management team and residence. Digitalization of processes is also improving over the years as people can now voice any complaints through apps by sending a photo and a note of the issue, which the team can pick up and send to the respective vendors easily. It is also important to ensure the management team is well equipped both with the know-how and tech to manage the property and its residents. All these above are what companies should focus and improve on.

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